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While the crypto market is on edge for the Ethereum ETF approval, traders have sprung into action. They are trying to identify the best cryptocurrencies that will explode once it passes. According to the sponsored content poster, some predicted altcoins to watch in 2024 are: KangaMoon (KANG), XRP (XRP), Avalanche (AVAX), Polkadot (DOT), and Tron (TRX).
KangaMoon (KANG)
According to the sponsored content sender, it is stated that KangaMoon (KANG), which is claimed to be trackable before the Ethereum ETF, should be investigated by crypto investors. It has seen a 290% price increase so far, raised $5 million, and aims to reach $7 million by the end of April 2024, according to its team. Additionally, more than 20 thousand community members have registered, while 5.8 thousand people currently own KANG. However, its future is uncertain and there is a risk of investment loss.
According to the content creator, the upcoming Play to Earn (P2E) game will use KANG as the main in-game currency for character upgrades and item purchases. Only KANG holders can participate in regular challenges that will reward them with more tokens and rewards. However, its future is uncertain and there is a risk of investment loss.
According to its team, KangaMoon’s community-centric approach sets it apart from its competitors. KangaMoon is giving free KANG tokens to the most active community members before launch. As a result, countless people are now reportedly rushing to like/comment/share KangaMoon’s social media posts to win free KANG. However, if it is not listed on the stock exchanges and the team does not remain loyal, the investment carries the risk of loss.
According to his team, one KANG token costs only $0.0196 as it is in Phase 5 of its presale. Early buyers enjoy a 290% return on investment. It is unknown whether it will have growth potential as KANG enters the P2E gaming market, which will reach $885 million by 2028.
XRP (XRP)
Next, XRP (XRP) came under the spotlight, which analysts think could benefit from Ethereum ETF approval. XRP was built to facilitate fast cross-border transactions and will achieve success if institutions use it more. As more regulatory issues are addressed and resolved, XRP may see an increase in demand and price.
Last week, XRP price increased from $0.57 to $0.60. The market value increased from $31.53 billion to $33.47 billion during this period. Not only that, 21 technical indicators for the XRP crypto are showing buy signals. Experts predict that XRP will reach $0.91 in Q2 2024 as it trades above its 100 and 200-day EMAs. Hence, XRP is a good crypto to buy right now.
Avalanche (AVAX)
Our analysts claim that Avalanche (AVAX) is among the best cryptos to buy ahead of Ethereum ETF approval. This blockchain attracts a lot of trading interest due to its fast and efficient speed. If people keep talking about Avalanche, there could be some big gains down the road for AVAX.
Regarding Avalanche price action, it has jumped from $44.59 to $46.26 in the last seven days. Its market value increased from $16.72 billion to $17.47 billion during this period. In addition, Avalanche crypto currently has more than 10 green technical indicators while trading above its 50 and 100-day EMAs. As a result, market analysts predict Avalanche to reach $58.29 before the end of Q2 2024.
Polkadot (DOT)
Polkadot (DOT) is second to last in our top 5 cryptocurrencies list. This project is known as the “internet of blockchains” because it can help different blockchains talk to each other. With Ethereum ETF approval imminent, analysts claim that increasing interest in the crypto space will also benefit Polkadot.
CoinMarketCap data shows that Polkadot price has skyrocketed from $8.12 to $8.44 in the past week alone. Its market value increased from $11.66 billion to $12.11 billion during this period. Not only that, Polkadot is currently trading above its 50 and 100-day EMAs. Therefore, experts predict that Polkadot will reach $12.39 in Q2 2024.
Tron (TRX)
Finally, we should mention Tron (TRX), another good crypto to buy ahead of Ethereum ETF approval. Tron is a blockchain platform for decentralized entertainment and content sharing. TRX’s value could skyrocket as demand for these decentralized platforms increases.
Recently, Tron has been experiencing a bullish wave as its price has risen from $0.117 to $0.121 in the past week alone. Its market capitalization jumped from $10.32 billion to $10.67 billion during this time. Additionally, 20 technical indicators show green signals. Therefore, experts predict that the Tron cryptocurrency could reach $0.18 before the end of Q2 2024.
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*This article is not investment advice! This is sponsored (advertising) content. Cryptocurrency investments are high-risk investments and there is a risk of investment loss. Do your detailed research before investing!
